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Eth chips stack on Polymarket table
June 5, 2024

Polymarket is Exploding! Why the Decentralized Prediction Market is Crypto’s Hottest Project

June 5, 2024

Imagine a platform where you can use Ethereum to place bets on real-world events, from politics to random global happenings—essentially an onchain Vegas where you can predict almost anything, and put your ETH where your mouth is, so to speak!

Polymarket is that platform, offering a plethora of betting options and a thriving community of active crypto gamblers.

Polymarket – The Key Numbers

Screenshot of key metrics via Token Terminal
Screenshot of key metrics via Token Terminal

  • $45M Series B Funding Added in May thanks to Founders Fund sending their total funding to $74M
  • 14.7K Monthly Active Users: Folks with a hunch for an outcome and some ETH in their pocket are flocking to Polymarket with numbers up +582.5% this month!
  • $23.7M Total Value Locked (TVL): TVL nearing an all-time high shows massive traction for the booming dapp. 
  • $18.4M Weekly Trading Volume: That’s another all-time high made this very week!
Polymarket Weekly Trading Volume Via Token Terminal
Polymarket Weekly Trading Volume Via Token Terminal

These impressive figures are largely driven by the US political season, which has brought a surge of speculation and betting activity sending Polymarket’s active users absolutely through the roof!

Screenshot of Polymarket Active User Count via Token Terminal
Screenshot of Polymarket Active User Count via Token Terminal

The biggest bet so far? The US presidential election winner, pulling in a staggering $149M in bets. 

The top ten biggest bets are dominated by political events, making Polymarket the Super Bowl for political enthusiasts.

Screenshot of Polymarket’s Hottest Prediction Markets
Screenshot of Polymarket’s Hottest Prediction Markets

Why Polymarket Outshines Traditional Betting Sites

  • Lower Fees: Keep more of your winnings with lower fees compared to traditional bookies.
  • Global Accessibility: Bet on anything, from anywhere in the world.
  • Custom Bets: Anyone can become a market maker and decide on the events to bet on.
  • Market Sentiment: Gauge the market’s pulse and see what everyone’s thinking (many used Polymarket to predict the likelihood of the ETH ETF approval).
  • Transparency: All information is available on-chain, ensuring trustless and transparent betting.

Polymarket is a prime example of a real-world use case for crypto, blending the excitement of betting with the transparency, fairness, and accessibility of blockchain technology.

Why the Future Looks Bright for Polymarket

  1. US Election Season: As the US elections heat up, Polymarket’s user base and volume are expected to skyrocket!
  2. Airdrop Potential: Currently, activity on Polymarket isn’t incentivized, but a future airdrop could reward users and drive even more engagement, as has happened very recently with so many other similar early-stage projects!
  3. Community Engagement: Polymarket’s strong presence on Twitter and other social media platforms is keeping it top-of-mind for users, enhancing community involvement.

This Cycle’s Killer Dapp?

The massive potential of Polymarket isn’t going unnoticed. Social media is exploding with crypto analysts dubbing Polymarket the “killer app” of this cycle, such as Hitesh.eth, founder of DYθR who attributes Polymarket’s success to its decision not to launch a token during the early adoption phase!

X User Hitesh.eth founder of DYθR attributes Polymarket’s success to its decision not to launch a token yet

Choose Xcoins to Load Your Polymarket Account INSTANTLY!

finger pressing card reader and getting instant bitcoin

At Xcoins, we are one of very few exchanges that let you instantly buy and send crypto, making it easy for you to join the action on platforms like Polymarket without the long wait experienced with other crypto exchanges. 

Here at Xcoins, we make it seamless to fund your Polymarket account with instant crypto transactions, we promise to send your crypto within 15 mins of payment confirmation!

Our 100% instant 100% non-custodial service ensures your funds are secure from the moment you click buy and readily accessible for all your betting, hodling, trading, or investing adventures.

Ready to Bet?

If you haven’t tried Polymarket yet, now might just be the opportune time to get in on the action! 

How was your experience on Polymarket?

When we get excited about a new platform, we love to hear our users feedback.

Have you used Xcoins to fund your Polymarket account? Let us know on social media! 

If you run into any problems funding your Polymarket account using Xcoins be sure to reach out to our 24/7 live support team using the live chat feature right here at Xcoins.com. 

Unlike other similar projects, Polymarket also promise round the clock support so you can be sure you’ll be supported on both ends of the transaction!

Xcoins does not endorse or recommend Polymarket and has no relationship with Polymarket. The information provided in this blog is for informational purposes only and is not financial advice. We strongly encourage you to conduct your own research, consider your personal financial situation carefully, and take professional financial advice. Always ensure that you never risk more than you can afford to lose.

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